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Negative Pressure Wound Therapy Systems Market Expected to Witness Massive Growth with a Significant CAGR of 5.09% from 2022-27 | DelveInsight

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Negative Pressure Wound Therapy Systems Market Expected to Witness Massive Growth with a Significant CAGR of 5.09% from 2022-27 | DelveInsight

November 09
17:50 2022
Negative Pressure Wound Therapy Systems Market Expected to Witness Massive Growth with a Significant CAGR of 5.09% from 2022-27 | DelveInsight
Negative Pressure Wound Therapy Systems Market
Negative Pressure Wound Therapy Systems Market Expected to Witness Massive Growth with a Significant CAGR of 5.09% from 2022-27 | DelveInsight

The Global Negative Pressure Wound Therapy Systems (NPWT) Market was valued at USD 3.35 billion in 2021, growing at a CAGR of 5.09% during the forecast period from 2022 to 2027, in order to reach USD 4.50 billion by 2027. 

Factors such as the rising incidence of chronic wounds associated with various chronic disorders such as diabetes, ulcers, obesity, and also with the rising incidence of active wounds comprising burns, surgical wounds, among others are driving the overall market growth. Further, an increase in the aging population, increasing awareness of proper wound care management, rising funding for wound care research, and technological advancements in wound care product offerings are also driving the market.

Some of the key market players operating in the Negative Pressure Wound Therapy Systems market include 3M (NYSE: MMM), Cardinal Health (NYSE: CAH), ConvaTec Group PLC (LON: CTEC), DeRoyal Industries, Inc., Devon Group, Medela AG, Smith & Nephew PLC (LON: SN), Mölnlycke Health Care AB, Direct Healthcare Group, Accel-Heal Technologies Ltd., B. Braun Melsungen AG, Lohmann & Rauscher, Cenefom Corp., PAUL HARTMANN Asia-Pacific Ltd., Carilex Medical, Chongqing Sunshine Medical Industry and Trading Co., Ltd., Foryou Medical Electronics Co., Ltd., OncoVista Innovative Therapies, Genadyne, Cork Medical, LLC, among others.

DelveInsight’s “Negative Pressure Wound Therapy Systems Market Insight & Forecast” report will offer an in-depth understanding of the Negative Pressure Wound Therapy Systems market, further benefiting the competitors or stakeholders operating in the Negative Pressure Wound Therapy Systems arena.

Negative Pressure Wound Therapy Systems Overview

Negative pressure wound therapy (NPWT), also known as vacuum-assisted wound closure is a wound dressing system that provides continuous or intermittent subatmospheric pressure to the system which further provides positive pressure to the surface of a wound. NPWT devices are used to treat acute and chronic wounds. These devices are categorized as FDA Class II devices that consist of a vacuum pump, drainage tubing, and wound dressing set requiring electricity to maintain its use. The devices are also used to remove fluids such as wound exudate, irrigation fluids, bodily fluids, or infectious materials.

Interested to know more about the functioning of Negative Pressure Wound Therapy Systems- Visit @ Negative Pressure Wound Therapy Systems Operations & Working.

Negative Pressure Wound Therapy Systems Market Insights

Among all the regions, North America is expected to account for the largest share in the Negative Pressure Wound Therapy Systems market. This domination can be primarily attributed to the rising prevalence of chronic conditions that ultimately result in chronic, surgical, and traumatic wounds, rising incidence of burn injuries, increase in expenditure on surgical and chronic wounds, and technological advancements in this region.

According to the American Burn Association (ABA) National Burn Repository 2019, flame burns are still the majority of injuries in the US (43%), with scalds second at 34% followed by contact at 9%, electrical burn injuries (4%), chemical (3%) and other (7%). Moreover, diabetic foot ulcers, a type of chronic wound in diabetic patients may also contribute to the market growth in the region due to rising cases of diabetes. For instance, as per the National Diabetes Statistics Report 2021, approximately 34.2 million people have diabetes which comprises 10.5% of the US population. Thus these critical condition is likely to increase the risk of developing chronic wounds thereby augmenting the market for Negative Pressure Wound Therapy Systems market. In addition, rising surgical procedures is also one of the major factors driving the Negative Pressure Wound Therapy Systems market growth.

Furthermore, high disposable income, sophisticated healthcare infrastructure, new product approvals as well as better healthcare facilities and reimbursement programs coupled with the presence of major market players as well as higher investment in the research and development activities in the region are predicted to be the major influencing factors in driving the overall growth of the Negative Pressure Wound Therapy Systems over the forecast period.

In North America, the US is expected to account for the largest share in the Negative Pressure Wound Therapy Systems market. This can be attributed to the increasing cases of wound disorders in the country and the rising geriatric population. As per the United States Census Bureau 2019, in the United States, 3% of the population older than 65 years have open wounds. By the year 2060, the US government estimates that the elderly population will be over 77 million, suggesting that chronic wounds will continue to be an increasingly persistent problem in this population. This increase in the wounds affected population would lead to the increased use of Negative Pressure Wound Therapy Systems in the country which in turn will contribute to the increasing demand for Negative Pressure Wound Therapy Systems thereby aiding in the growth of the Negative Pressure Wound Therapy Systems market in the country and as well as the region.

Therefore, the interplay of various factors such as the presence of a large patient population, encouraging reimbursement policies as well as new product launches in the region are going to boost the North America Negative Pressure Wound Therapy Systems market during the forecast period.

To read more about why North America is leading the market growth in the Negative Pressure Wound Therapy Systems market, get a snapshot of the Negative Pressure Wound Therapy Systems market report.

Negative Pressure Wound Therapy Systems Market Dynamics

Negative Pressure Wound Therapy Systems (NPWT) is increasing gradually, one of the main reasons driving the Negative Pressure Wound Therapy Systems (NPWT) market growth is the rising incidence of chronic and acute wounds associated with various disorders. According to the Wound Healing Society, chronic wounds are classified into four categories: pressure ulcers, diabetic ulcers, venous ulcers, and arterial insufficiency ulcers. Chronic wounds have a significant impact on the health and quality of life of patients and their families. They can cause pain, loss of function and mobility, depression, pain and anxiety, shame and social isolation, financial burden, long-term hospitalization and chronic diseases, and even death. Therefore, to properly treat chronic wounds, Negative Pressure Wound Therapy Systems products are required, which in turn is expected to drive the Global Negative Pressure Wound Therapy Systems market.

Another factor driving the demand in the growth of the Negative Pressure Wound Therapy Systems market is the rising geriatric population. According to the United Nations World Population Ageing 2020 Highlights, there were about 727 million people over the age of 65 worldwide in 2020. The aforementioned source further mentioned that the elderly population is expected to double to more than 1.5 billion in the next three decades. The elderly population is more prone to the development of various chronic disorders. Thus, the increasing prevalence of chronic wounds among the aging population is also expected to increase the demand for the Global Negative Pressure Wound Therapy Systems Market.

However, factors such as the cost of these devices are very high and there is a constant risk of infections associated with reusable Negative Pressure Wound Therapy Systems that may inhibit the growth of Negative Pressure Wound Therapy Systems in the market.

Recent Breakthroughs in Negative Pressure Wound Therapy Systems Market:

  • In August 2021, Aatru Medical, LLC announced the US Food and Drug Administration (FDA) 510(k) Class II clearance of the NPSIMS™ Negative Pressure Surgical Incision Management System. The FDA-cleared miniaturized device is designed to help heal open wounds after surgery by sealing and holding them shut using gentle suction.
  • In April 2021, Joerns Healthcare and Medela announced a nationwide partnership to develop access to innovative negative pressure wound therapy systems. Through this agreement, Joerns will expand its wound care portfolio to include the full Medela line of negative pressure wound therapy products, including the Invia Liberty and Invia Motion 60 NPWT Systems.
  • In June 2019, 3M acquired Acelity L.P. Inc. for $6.7 billion to enhance its strategy for advanced wound care solutions and accelerate the penetration of NPWT products internationally.

Key Players Proactively Working In the Negative Pressure Wound Therapy Systems Market

Key Negative Pressure Wound Therapy Systems companies involved in manufacturing and production are making significant growth in the advancement of these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Negative Pressure Wound Therapy Systems companies operating actively in the Negative Pressure Wound Therapy Systems market include 3M, Cardinal Health, ConvaTec Group PLC, DeRoyal Industries, Inc., Devon Group, Medela AG, Smith & Nephew PLC, Mölnlycke Health Care AB, Direct Healthcare Group, Accel-Heal Technologies Ltd., B. Braun Melsungen AG, Lohmann & Rauscher, Cenefom Corp., PAUL HARTMANN Asia-Pacific Ltd., Carilex Medical, Chongqing Sunshine Medical Industry and Trading Co., Ltd., Foryou Medical Electronics Co., Ltd., OncoVista Innovative Therapies, Genadyne, Cork Medical, LLC among others.

Scope of the Negative Pressure Wound Therapy Systems Market Report:

  • Geography Covered: Global
  • Study Period: 2019-2027
  • Key Negative Pressure Wound Therapy Systems Companies: 3M, Cardinal Health, ConvaTec Group PLC, DeRoyal Industries, Inc., Devon Group, Medela AG, Smith & Nephew PLC, Mölnlycke Health Care AB, Direct Healthcare Group, Accel-Heal Technologies Ltd., B. Braun Melsungen AG, Lohmann & Rauscher, Cenefom Corp., PAUL HARTMANN Asia-Pacific Ltd., Carilex Medical, Chongqing Sunshine Medical Industry and Trading Co., Ltd., Foryou Medical Electronics Co., Ltd., OncoVista Innovative Therapies, Genadyne, Cork Medical, LLC among others.
  • Market Segmentation by Product Type: Conventional NPWT Devices, Single-Use NPWT Devices
  • Market Segmentation by Wound Type: Pressure Ulcers, Diabetic Ulcers, Venous Ulcers, Others
  • Market Segmentation By End-User: Hospitals, Specialty Clinics, And Others
  • Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Table of Contents 

1

Report Introduction

2

Executive Summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Negative Pressure Wound Therapy Systems Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Negative Pressure Wound Therapy Systems Market

7

Negative Pressure Wound Therapy Systems Market Layout

8

Negative Pressure Wound Therapy Systems Global Company Share Analysis – Key 3-5 Companies

9

Negative Pressure Wound Therapy Systems Companies and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

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